Summers, not Yellen, leading candidate for top Fed job: report

Former Obama economic adviser Lawrence Summers, and not Fed Vice Chair Janet Yellen, is the leading candidate to replace Fed Chief Ben Bernanke should he chose to step down when his term ends early next year, according to a report by Politico on Wednesday.

Since last fall, Yellen has been seen as the top contender for the post, garnering praise from prominent economists and Fed watchers. But President Barack Obama’s view remain unknown.

The report, which cites top Democrats close the Obama White House, said that Summers, who also was Treasury secretary under President Clinton, is not “a lock.”

It listed other top candidates as Roger Ferguson, the former Fed governor who is now CEO of TIAA-CREF, former Treasury Secretary Timothy Geithner, and former Fed Vice Chair and Democrat adviser Alan Blinder.